A growing economic crisis in Russia and a growth slowdown in China that has rattled world markets means about $113 billion worth of joint projects ranging from gas pipelines to power grids have been stalled or delayed.

With a major crackdown on corruption also in progress in China, and Russia hit by sanctions, falling oil prices and a collapsing currency, some joint Russian-Chinese projects may be delayed indefinitely, industry sources and analysts say.

The developments represent a major challenge to President Vladimir Putin's strategy of a pivot to Asia, spurred last year by the imposition of Western sanctions on Moscow for its role in the Ukraine crisis.